Green lender Fannie Mae named Energy Star Partner of the Year
Fannie Mae has received its fourth consecutive Energy Star Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA).
An Energy Star partner since 2011, Fannie Mae received the award for its continued commitment and outstanding effort to increase the adoption of energy-efficient policies and improve the quality of multifamily housing, according to a release.
The 2018 Energy Star Award winners were chosen from among 16,000 Energy Star partners. Each winner leads its industry in the development and adoption of strategies and products that provide substantial energy and money savings in commercial and residential properties, officials said.
Fannie Mae Multifamily provided more than $27 billion in green financing in 2017. Fannie Mae Green Financing loans are secured by multifamily properties that have been awarded one of 14 green building certifications, such as LEED or Energy Star, or which have improvements that target at least a 25 percent reduction in energy or water consumption.
For loans originated prior to 2018, the consumption reduction target was 20 percent or greater. Fannie Mae introduced its Green Financing products in 2011.
Energy Star reports that since its inception in 1992, the organizations and its partners have helped prevent more than 2.4 billion metric tons of greenhouse gas emissions. In 2016 alone, ENERGY STAR-certified products, homes, buildings and plants achieved broad emissions reductions that helped Americans save more than $30 billion in energy costs and approximately 400 billion kilowatt-hours of electricity.
Fannie Mae Multifamily is among the leading providers of financing for multifamily properties in the United States. In 2017, the company issued $27.6 billion in Green Mortgage-Backed Securities (MBS) backed by either green building-certified properties or properties targeting a reduction in energy or water consumption, up from $3.6 billion in 2016 and $111 million in 2015.